All Forum Posts by: Maamoun Hossayrami

I'd have to differ with that, Chris. Joliet - especially the areas west of Larkin Ave (Weber Rd in Naperville / Romeoville) are a mix of established housing and "new" development (within the past 15 - 20 years). Most of my neighborhood - Rt 59 between Black Road and Theodore Street -  is young professional people with finances about as stable as can be reasonably expected given the state of the economy and the job market. Much of the area west of I-55 between Caton Farm Rd and Jefferson Street / IL-52 is made up of new development / subdivisions. Many of the foreclosed properties in this area are being rented / lease-optioned / resold to young professionals and families.

Not much multi-family here, though, to the OP's point.

If you're talking about Joliet from the river / downtown on east, then yes - you're looking at different strategies in those areas.

That said, one of the couples in my investing group based in Downers Grove has hooked up with a VA program for providing housing for homeless veterans near where they get treatment for physical and other disabilities or near public transit they can use to get around. It's a subsidized housing program and the properties will be managed by a third-party, I believe, or perhaps the VA itself - not sure. The VA pays rents at 100% occupancy whether the properties have vacancies or not. Their properties are on the west side of the river between Cass and Jefferson Streets.